BRUNSWICK CORP
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
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Schedule II - Valuation and Qualifying Accounts
(in millions)
| Allowances forLosses on Receivables | Balance atBeginningof Year | Charges toProfit and Loss | Write-offs | Recoveries | Other | Balance atEnd of Year |
|---|---|---|---|---|---|---|
| 2023 | $10.2 | $3.2 | $(4.2) | $1.4 | $0.2 | $10.8 |
| 2022 | 9.7 | 2.0 | (2.6) | 0.3 | 0.8 | 10.2 |
| 2021 | 10.7 | 0.4 | (1.0) | 0.1 | (0.5) | 9.7 |
| Deferred Tax AssetValuation Allowance | Balance atBeginningof Year | Charges toProfit and Loss (A) | Write-offs | Recoveries | Other (B) | Balance atEnd of Year |
|---|---|---|---|---|---|---|
| 2023 | $52.8 | $17.8 | $— | $— | $0.7 | $71.3 |
| 2022 | 97.9 | (10.4) | — | — | (34.7) | 52.8 |
| 2021 | 93.4 | (24.2) | — | — | 28.7 | 97.9 |
(A) For the year ended December 31, 2023, the deferred tax asset valuation expense primarily relates to reassessments of certain federal tax credits, impairment of certain investments, and state tax credits and NOL's. For the year ended December 31, 2022, the deferred tax asset valuation benefit activity primarily relates to reassessments for state tax credits and NOL’s and certain federal losses. For the year ended December 31, 2021, the deferred tax asset valuation benefit activity primarily relates to reassessments for state tax credits and NOL’s and to certain federal tax credits.
(B) For the year ended December 31, 2023, the activity primarily relates to currency translation of foreign balances. For the year ended December 31, 2022, the activity primarily relates to final adjustments to the opening balances of foreign entities acquired during the fourth quarter of 2021. For the year ended December 31, 2021, the activity primarily relates to the opening balances of foreign entities acquired during the year.
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